Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are
actual demand levels, in thousands of gallons.                                                                                                                                        What a re the MAD and MSE for each method?
FORECASTS
WEEK
METHOD 1
METHOD 2
ACTUAL DEMAND
1
0.90
0.80
0.70
1.05
1.20
o 1.00
3
0.95
0.90
1.00
1.20
1.11
1.00
2.
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Transcribed Image Text:FORECASTS WEEK METHOD 1 METHOD 2 ACTUAL DEMAND 1 0.90 0.80 0.70 1.05 1.20 o 1.00 3 0.95 0.90 1.00 1.20 1.11 1.00 2.
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